Zacks Research Has Strong Estimate for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) - Research analysts at Zacks Research boosted their FY2024 EPS estimates for ACADIA Pharmaceuticals in a report released on Wednesday, November 27th. Zacks Research analyst A. Chakraborty now expects that the biopharmaceutical company will earn $0.57 per share for the year, up from their prior forecast of $0.50. The consensus estimate for ACADIA Pharmaceuticals' current full-year earnings is $0.73 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals' Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.21 EPS, Q1 2026 earnings at $0.19 EPS and Q3 2026 earnings at $0.38 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to analysts' expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business's revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS.

Other analysts have also issued research reports about the company. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Cantor Fitzgerald cut their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada cut their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

ACAD stock traded up $0.29 during midday trading on Monday, reaching $16.61. 1,418,012 shares of the company traded hands, compared to its average volume of 1,664,788. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.69 and a beta of 0.38. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $32.59. The business has a 50 day moving average of $15.61 and a 200-day moving average of $16.01.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $25,000. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth about $27,000. Quest Partners LLC grew its stake in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock valued at $94,000 after purchasing an additional 1,066 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 4,073 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now owns 19,863 shares of the company's stock, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. Company insiders own 28.30% of the company's stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.